Cass County Democratic Party Chair Sherry Toelle reports a presentation on IPERS (The Iowa Public Employee Retirement System) was made Tuesday, by Mike Fitzgerald, Iowa’s State Treasurer. He spoke to about 90 people at the Atlantic High School Auditorium.  IPERS is a defined benefit program to which the current GOP Legislature has attempted to make significant changes, wanting to change it to a defined contribution plan or a 401K.  It is unclear as to Governor Reynold’s plans for IPERS as she has made several ambivalent statements over the past year regarding the pension plan. Because of these proposed changes, public employees expressed justifiable concerns about their retirement security. Fitzgerald told the crowd “IPERS is a $31 billion retirement plan designed to provide secure, lifetime pension benefits for Iowans who choose careers in public service.”

It is estimated by the IPERS Board that about 80% of the retiree benefits being paid out remain in the local community. In Cass County (2017 figures supplied by IPERS), there were 755 benefit households; the annual cumulative benefits provided to those households totaled $11,277,422, for an average of $14,937 per retiree. Mr. Fitzgerald serves as the trustee and custodian of the IPERS program through which one in ten Iowans is a current or potential beneficiary.

Saying public employees must be vigilant about their investment, Fitzgerald stressed the need for concerned public employees to contact their legislators and legislative candidates as well as the Governor and Gubernatorial candidates to express their opinions about IPERS, especially if they want to save IPERS from possible changes. There were numerous questions regarding the solvency of the retirement program and whether the current system or the others being considered was the better choice.  Fitzgerald assured the attendees of the current program’s solvency.

More information about IPERS can be found at its website https://www/ipers.org/